Putin wants to increase sales of Russian arms

(QHA) -

Russia sold more than $15 billion worth of arms in 2014, President Vladimir Putin said on Tuesday, adding that new signed orders stood at nearly $14 billion.

Russia is the world's second-largest arms exporter after the United States. Putin also said Russia exported military equipment to more than 60 countries last year, when its ties with the West hit a rocky bottom over the conflict in Ukraine.

"Russia will expand its presence on such prospective markets and the Asia-Pacific region, Africa, Latin America and the Carribbean," Putin told a meeting at the Kremlin.

"Exports of high-tech military products is important for Russia, especially amid the difficult geopolitical situation. It is important for updating the production of the defense sector...and solving many social issues."